• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Nintendo Stock Outlook: Profit Forecast And Switch Sales
Economy

Nintendo Stock Outlook: Profit Forecast And Switch Sales

by November 6, 2024
by November 6, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Nintendo’s stock has risen due to a new operating profit forecast for the year ending March 2025, which shows a 10% decrease. The company expects its 2025 operating profit to reach 360 billion yen or $2.36 billion.

The Kyoto-based gaming giant sold 4.7 million Switch consoles this fiscal year, down from 6.8 million units shipped last year. In the past, the stock exchange often saw applause during Nintendo’s presentations. However, the company’s significant decline led investors to act and focus on its policies as new innovations took over the market.

Sales Forecast Revised: 12.5 Million Units From Previous Level

Moreover, Nintendo broke the news that it has cut down on its sales targets for the Switch hardware during the year by about 7% to 12.5 million units from the previous level. After the Nintendo DS, the Switch has now become the second top-selling Nintendo console, and thus the decrease in its sales has started to be felt.

Despite the fact that the market is experiencing a decline, Nintendo still managed to keep the game console afloat by introducing its well-known characters to attract customers. However, despite the Japanese company’s projections of low sales forecast, investors might still be more demanding as they want to see what is the next move of the firm.

The Impact of Recent Releases on Nintendo Shares

In the previous fiscal year, Nintendo’s Switch sales got the desired boost due to the successful games – “The Super Mario Bros. Movie” and “The Legend of Zelda: Tears of the Kingdom.” These releases not only showed further that Nintendo’s characters are still very popular, but also lessened the impact of their slow hardware sales.

Nonetheless, Nintendo’s share price suggests that investors worry about the company’s future growth strategy. Consequently, the management may need to consider a new hardware platform or other innovations to keep its competitive edge.

Nintendo Stock Chart Analysis

Nintendo 15 Minute chart

From a 15-minute chart for Nintendo, we can see the technical picture of Nintendo Co. Ltd. The stock is currently trading around 17.2 THB and has been recently moving between a range of 17.4 to 18.4.

The RSI (Relative Strength Index) is around 34.99, which is not very far from the oversold territory. In our view, it means selling has been strong, but not excessively. Should the RSI rise above this level, that would indicate that buyers are getting involved. This is a possible scenario which may result in a short-term price reversal or a bounce.

Upon deeper analysis, it clearly shows that the resistance area is currently in the 17.7 to 18.0 zone, while the support zone is about 17.2. The price grew but got trapped near 18.

A move below 17.2 will further pull down the stock price. However, we should also look for a surge in trading volumes or a bullish RSI of above 50 points to consider a trend reversal as a bigger confirmation.

Now is the time for you to take action and get ready for the next move!

The post Nintendo Stock Outlook: Profit Forecast And Switch Sales appeared first on FinanceBrokerage.

You Might Also Like
  • Iran foreign minister warns ‘preemptive action’ against Israel expected within hours
  • Trump, GOP skeptics of Ukraine aid balk at potential McConnell-Schumer border deal
  • Venezuelan President Nicolas Maduro claims election victory, refuses to publish results
  • DeSantis removed a state attorney for going ‘soft’ on felons, now a felon is pushing to bring her back
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Boeing strike ends after machinists approve new labor contract with 38% wage increases
next post
Home Depot co-founder Bernie Marcus dies

You may also like

Doctors express concern about Biden’s apparent cognitive issues during debate:...

June 29, 2024

The taxing truth: A state-by-state analysis of tax-time trickery

April 12, 2024

Ex-DHS agent who inspired ‘Sound of Freedom’ ‘seriously considering’ run...

September 16, 2023

Westchester County DA closes multiyear-long Trump golf course criminal investigation

June 19, 2023

Fox News Poll: Support for helping Ukraine fading

November 16, 2023

Leading activist slams Dems for dragging feet on reparations: Black...

June 16, 2023

Democrats win seat, Republicans win impeachment, two presidents clash over...

February 15, 2024

New poll reveals which party is more enthusiastic about Biden-Trump...

April 30, 2024

North Dakota urges residents to return Medicaid renewal forms amid...

June 7, 2023

What a popular Republican governor in a key primary state...

July 28, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,632 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,320 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,302 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Sen. Joni Ernst becomes final member...

    March 7, 2024

    Critics rip DeSantis for Trump comment...

    August 21, 2023

    US Navy responds to distress call...

    November 27, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here